INDEPENDENT BANK CORPORATION

INDEPENDENT BANK CORPORATION

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Company Overview
Independent Bank Corp. operates as a bank holding company of a group that provides a full range of financial services including retail and commercial banking, mortgage lending, investments and title services in Michigan’s Lower Peninsula. The company was founded as First National Bank of Ionia in 1864. It is a publicly-quoted company with registered head office located in Ionia, Michigan in the United States.
Independent Bank manages the interests of its sole wholly-owned subsidiary, Rockland Trust Company, which offers commercial banking, retail banking, investment management services, and insurance sales services from more than 50 retail branches, nine commercial lending centers, five mortgage origination offices located throughout southeastern Massachusetts and on Cape Cod, and from four investment management offices located throughout southeastern Massachusetts, on Cape Cod, and in Rhode Island.
The company is also responsible for strategic planning, allocation of resources, development of common corporate standards, regulations and policies, and control over plan and budget performance by its businesses.
The company is committed to providing exceptional personal service and value to its customers, its stockholders and the communities it serves.
Business Summary
Bank Holding & Holding Company
Description and history
The Company a state chartered, federally registered bank holding company headquartered in Rockland, Massachusetts that was incorporated under Massachusetts law in 1986. The Company is the sole stockholder of Rockland Trust Company, a Massachusetts trust company chartered in 1907.

The Company’s common stock trades on the National Association of Securities Dealers Automated Quotation System under the symbol INDB.

The Company is a community-oriented commercial bank, consists of commercial banking, retail banking, investment management services, retail investments and insurance sales and is managed as a single strategic unit. The community banking business derives its revenues from a wide range of banking services, including lending activities, acceptance of demand, savings, and time deposits, trust investment management services, retail investments and insurance services, and mortgage banking income. Rockland offers a full range of community banking services through its network of 52 banking offices , nine commercial banking centers, three investment management group offices, and four residential lending centers, which are located in the Plymouth, Norfolk, Barnstable and Bristol counties of southeastern Massachusetts and Cape Cod

The Company offer various type of loans, including commercial loan, business banking, real estate loan and consumer loan.

The Bank’s securities portfolio consists of U.S. Treasury and U.S. Government agency obligations, state, county and municipal securities, mortgage-backed securities, collateralized mortgage obligations, Federal Home Loan Bank (‘FHLB’) stock, corporate debt securities and equity securities held for the purpose of funding supplemental executive retirement plan obligations

Deposits and borrowing are the main sources of the Bank’s funds for use in lending and for other general business purposes. Rockland offers a range of demand deposits, interest checking, money market accounts, savings accounts, and time certificates of deposit. Borrowings consist of short-term and intermediate-term obligations. Short-term borrowings can consist of FHLB advances, federal funds purchased, treasury tax and loan notes and assets sold under repurchase agreements.

Founded as First National Bank of Ionia

Business Line
Operates as a bank holding company of a group that provides personal, small business, and commercial banking services
Subsidiary
BUSH STREET INVESTMENTS LLC
Advisor

IPO date
3/27/1990
US SIC Code
6712
Company Address
230 West Main Street

City province or state postal code
48846, IONIA, MI
Phone: 1 (616) 527 58 20
Fax:
Country address: UNITED STATES OF AMERICA
Website url: www.independentbank.com